- Neurocrine Biosciences (NASDAQ:NBIX) has exercised its option to in-license global rights Idorsia's (OTCPK:IDRSF) ACT-709478, an orally available brain-penetrating T-type calcium blocker for the potential treatment of a rare type of pediatric epilepsy.
- It plans to launch a Phase 2 study in H2.
- Last year, Neurocrine Biosciences paid $5M to Idorsia for option rights to the candidate. Its decision to exercise the option triggered a $45M payment to Idorsia. It will also provide $7M to fund research to discover, identify and develop additional novel T-type calcium channel blockers.
- Idorsia is eligible to receive up to $365M in milestones and tiered low-double digit to upper-teens royalties on net sales of ACT-709478.
- Shares up 4% premarket on light volume.